
Replication code for Prest, Brian C. "Supply-Side Reforms to Oil and Gas Production on Federal Lands: Modeling the Implications for CO2 Emissions, Federal Revenues, and Leakage".

12/29/2021

Running prest_2021_main.R replicates the full model, given the necessary data. Proprietary datasets from Enverus (formerly known as Drillinginfo) and IEA are needed in /Data/Drillinginfo/ and /Data/IEA/ for the code to run. See the README.txt files in those folders for explanations and sources. The rest of the data used in this study are otherwise in their respective subfolders in the /Data/ folders.

The code was run in R version 4.0.2 on a Windows machine with 32 GB RAM. Given the large size of the dataset (~1 million wells, each of which is observed for about 120 months on average) and processing needed, running the full script is likely to take several days of computational time. The largest computational need by far is estimating projected decline curves for each of the ~1 million existing wells to project production from those wells over the next 3 decades. Once that is run once, the model takes that as an exogenous input, meaning subsequent model runs can be implemented quickly. The code saves timestamped working data files to the /Data/Working_Data/ folder so that the computationally intensive steps need not be rerun multiple times. 